Reddit has officially filed for its Initial Public Offering (IPO), revealing plans to list on the New York Stock Exchange under the ticker symbol $RDDT. The company's filing with the US Securities and Exchange Commission (SEC) has drawn significant attention for several reasons, including its financial performance, strategic partnerships, and potential risks. Reddit reported a loss of $90.8 million and a 21% revenue growth in 2023. A notable aspect of the IPO is Reddit's deal with Google on AI data harvesting, as well as its decision to allow active users to participate in the IPO, a move seen as an experiment. The company's CEO received a total compensation of $193M in 2023, while the COO made $92mm, highlighting the compensation disparity with volunteer moderators who manage the platform for free. Reddit's filing also lists the r/WallStreetBets subreddit as a key risk to its stock, citing the potential for market disruption similar to past events with stocks like GameStop and AMC. Furthermore, the company's reliance on Google for traffic and revenue, as well as its investment in cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and MATIC, are identified as significant factors in its business strategy.
Social Media Platform Reddit Discloses Bitcoin (BTC) and Ether (ETH) Holding in IPO Filing https://t.co/BcblqPzVvq
.@Reddit disclosed in an IPO filing that it invested part of its excess cash into $BTC, $ETH and $MATIC. https://t.co/rHDfVi6pJw
Kudos to reddit ceo for milking these bit by bit to a whopping $190M a year https://t.co/5KVCdkWkHf
“Short the shit out of it,” wrote one r/Wall StreetBets user. Another: “Loads puts into the put-cannon with malicious intent.” A lot of Redditors hate the Reddit IPO: https://t.co/tzOJgM5wyx
Bet on Reddit's IPO valuation! https://t.co/k2U9YjOTxb https://t.co/U1bj6wKiI5
Equity Shot: All about the Reddit IPO!: https://t.co/WBnhIxuJLF by TechCrunch #infosec #cybersecurity #technology #news
Reddit lists WSB as a risk factor for its IPO: https://t.co/1osfnRtT9o
Many redditors say they are not enthused about Reddit's IPO and expect CEO Steve Huffman to run the site into the ground while trying to make it profitable (@mslopatto / The Verge) https://t.co/cSINtRVp30 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/8cutCcCgZC
Equity Shot: All about the Reddit IPO! https://t.co/56nU6ck6yE
The Reddit IPO is the last hurrah of the Millennial generation.
For Redditors who treat retail investing like a form of internet trolling, Reddit’s IPO could be the ultimate meme. Read more: https://t.co/F69MzQbpXK https://t.co/HQmjgkLRWi
Redditors planning to buy up all of the Reddit shares once they hit the open market https://t.co/46Lzc1FarU
A lot of Redditors hate the Reddit IPO https://t.co/sdfZLPSQgy
Reddit recently filed a sales pitch with the SEC which would allow it to debut on the stock market with the ticker symbol RDDT as soon as next month, but don't expect to see cofounder Alexis Ohanian ringing the NYSE bell anytime soon. https://t.co/2uPXVP73rS
Reddit, in it's IPO listed it's popularity amongst WallStreetBets as a risk factor for the stock price, citing the fate of $gme and $amc as examples. Risk? That's the only thing they have going for them lol
Reddit, in it's IPO listed it's popularity amongst WallStreetBets as a risk factor for the stock price, citing the fate of $gme and $amc as examples.
Reddit has finally filed for its IPO and wants to sell shares to users and user data to Google. Redditors might have other plans, writes John Herrman. https://t.co/aZZ1IlfF6e
reddit's IPO might end up creating the most hilariously ungovernable platform on the internet https://t.co/u83hkJga2j
0% chance I go anywhere near the Reddit IPO after seeing this nonsense. Clearly these unprofitable companies have learned NOTHING from the past few years. This is just $SNAP all over again. I suspect this IPO will be a disaster and the company will have nobody to blame but… https://t.co/wLYIfndJbG
Reddit reveals 21% year-over-year revenue growth as it moves forward with long-rumored IPO https://t.co/i4wxNPYvzF
LISTEN NOW: Reddit filed for its IPO — we're talking about what it means for the state of tech right now. Listen and follow the @CNBCTechCheck podcast here: https://t.co/GkIlXbKLTT https://t.co/LHgEVY8BD8
Will you invest in the Reddit IPO? Get ready to make an informed decision with this quick guide to Reddit. Read on to learn the company history, key stats and revenue sources. https://t.co/lt7iSM85Bs https://t.co/l1obA3E4AT
Reddit IPO boasts unique edges: 1st social media IPO in 5yrs (Pinterest); top creators can buy IPO shares; IPO expected to be below last private valuation, BUT it’s the white center for meme stock activity; stockpiled unique LLM training data; and offers asymmetric upside.
I love that Reddit filing for an IPO is reported with a picture of Roaring Kitty. :):) https://t.co/N2BZyNMo4v
Reddit's IPO filing is a lens into how Silicon Valley tech companies view crypto, @danielgkuhn writes. Opinion for The Node newsletter. https://t.co/GKKzMgshKI
These are the groups that could be the big winners (and losers) in Reddit’s upcoming IPO. The company's S1 filing offered some surprising details about who holds the most stock. https://t.co/yA8mIbbRXz
As Reddit gets ready for its IPO, has it grown too dependent on Google for traffic and money? One could argue yes. The company used to bucket traffic under “direct” and “non direct,” which meant Google. IMO, this dynamic is the biggest risk factor facing Reddit. More on that,…
As Reddit gets ready for its IPO, has it grown too dependent on Google for traffic and money? One could argue yes. IMO it’s the biggest risk factor facing Reddit. More on that, including some scoopage on how user growth is continuing to surge after a Google algo change, in…
$RDDT #Bitcoin | Did Reddit Bet Its IPO On Bitcoin? 'Sounds Like A Stupid Decision,' Redditor Says Reddit's strategic move into cryptocurrencies could influence broader adoption across various sectors, setting a new precedent. The success of Reddit's crypto initiatives will be… https://t.co/JBm81JEyAU
Yesterday, Reddit filed to go public and is taking a nontraditional approach by making a portion of its shares available to some of its most loyal users before the general public. If history is any indication, that could yield mixed results for investors. https://t.co/Gcszcs7HcR
Reddit had a warning for the public in its IPO documents: Beware the apes. 👀 It's a reference to the users on r/WallStreetBets, which banded together to screw over Wall Street investors by buying up meme stocks like GameStop in 2021. 💸 Me for @Gizmodo: https://t.co/4ahGRvvazh
Reddit hasn't turned a profit in nearly 20 years, but it just filed to go public anyway https://t.co/TPpxMwkQ9y
Want to buy a piece of the Reddit? You better think about what the WallStreetBets subreddit could do to your investment. https://t.co/L8PYZt8Chd
IPO documents reveal that Reddit CEO was paid $193 million in 2023 https://t.co/rHvK1anMBz
WallStreetBets reactions to Reddit's IPO plans https://t.co/S0BXYglMMQ
Reddit downplays risks of developer backlash, decentralized social media in its IPO filing: https://t.co/DPlXuztlhT by TechCrunch #infosec #cybersecurity #technology #news
Writing a day late about the Reddit IPO https://t.co/zOjyIFEcNW https://t.co/G5ErzbMPlj
Reddit downplays risks of developer backlash, decentralized social media in its IPO filing https://t.co/9aBPB6ibzX
Reddit failing to support third-party apps could hurt business, IPO filing says https://t.co/uwCmwBcIFN
It would be hilarious if Reddit’s IPO backfires and leads to mods demanding compensation (or equity) for their currently free labor.
Reddit volunteer moderators finding out the CEO took home $193M last year https://t.co/lIK6oAcBFJ
Social network Reddit's IPO is an 'AI play,' says Herb Greenberg https://t.co/pndsHPTA2D
Reddit filed a prospectus for its much-anticipated IPO on Thursday, revealing new details about the company's plans to list on the New York Stock Exchange. Here's what we know and don't know. https://t.co/2IWAx1cFR0
Reddit tests the IPO market during a treacherous time for unprofitable startups: "Sophisticated investors won’t be excited about buying." https://t.co/GcOvpmI7JW
Reddit Warns That r/WallStreetBets Could Wreak Havoc on Its Stock Price https://t.co/uPRIVrJxx7 https://t.co/KTTOTivPWK
⚠️WallStreetBets subreddit upset that Reddit listed them as a ‘risk factor’ in IPO filing 😂 a Reddit community shorting / sabotaging the Reddit IPO would be better than the GameStop story. Fate loves irony. short it! https://t.co/BlwjppNR1y
Reddit aims to ride the AI wave by going public https://t.co/oZsm49iCDP
Will Reddit end the IPO drought?
Reddit Files To Go Public, Set To Capitalize On AI Market Boom https://t.co/mZ6NcBEHQA
Reddit has finally registered with the US Securities and Exchange Commission (SEC) to become a public company with a programme that will allow some of its most active users to buy shares. https://t.co/h9u7BXD9mJ
The Reddit COO making $92mm looking at all the users who contribute content for free https://t.co/ADFeLHfiVm
Reddit is preparing to IPO under ticker $RDDT The company is not making any profit, posting losses from operations and negative free cash flow for the last two years We'll see if that matters or if the animal spirits will treat this like its the 2021 IPO season all over again https://t.co/OWvm1WZR5A
OMG REDDIT JUST LISTED THE R/wallstreetbets subreddit AS A KEY RISK TO INVESTING IN THEIR STOCK WSB just got a hold of this part of the S-1 and now is planning the SHORT THE COMPANY instead of going long The market thought WSB would actually buy the stock even if it had… https://t.co/S37nH1hk2N
Reddit CEO ($193M total compensation in 2023) dapping up the moderators who run Reddit for free https://t.co/SPXxb1BWOz
$RDDT Reddit's US IPO filing reveals $90.8 million losses, 21% revenue growth in 2023 - Reuters https://t.co/7lLJj1Kj7W
“Why isn’t Reddit profitable!?” lol what was the last profitable IPO? Uber lost $35B before profit and now everyone loves it. Reddit has cash, will raise like $750M more, loss $100M a year and be fine. Stop expecting profitable companies 🙃
Reddit IPO finally official; AI data harvesting deal was with Google https://t.co/cExN5xlQGo by @benlovejoy
Reddit allowing redditors to participate in the IPO is... an interesting experiment